Private Equity Fund Investments
Indiabulls HF sells addl stake in UK's OakNorth for Rs.251-Cr
Publicly listed Indiabulls Housing Finance Ltd (IBHFL) has further sold a portion of its stake in OakNorth Holdings Ltd, the parent company of UK-based OakNorth Bank plc, for approximately INR 251 crore. From the Dear Digest archive: OakNorth Bank was launched in September 2015. Indiabulls had invested INR 663 crore in November 2015 for a 40% stake in the bank. In November 2017, the company recouped its investment by selling about 10% stake to the Singapore government's investment arm GIC for INR 770 crore. In September 2020, IBHFL sold a stake worth INR 440 crore to HighSage Ventures LLC for INR 440 crore. In October 2020, it sold an additional stake about INR 630 crore to TEMF Ltd (a fund managed by Toscafund Asset Management). In Dec 2020 it sold an additional stake worth approximately INR 93 crore.
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